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MIRA INFORM REPORT
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Report No. : |
503728 |
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Report Date : |
12.04.2018 |
IDENTIFICATION DETAILS
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Name : |
SANTOMI & CO LTD |
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Registered Office : |
Shin-Kobe Bldg, 1-1-1 Sannomiyacho Chuoku Kobe 650-0021 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2017 |
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Date of Incorporation : |
June 1948 |
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Com. Reg. No.: |
1400-01-007970 (Kobe-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Imports and wholesales cyclone turbine flow meters (from Korea), adhesives (Loctite), plastic fittings & joints, plastic bended tubes, natural rubber, synthetic rubber, natural latex, synthetic resins, other rubber materials, mold cleaners (cleaning rubber & liquid), other industrial parts & components, soil improvement chemicals, others (--100%). |
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No. of Employees : |
15 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
Yen 60.3 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
JAPAN - ECONOMIC OVERVIEW
Over the past 70 years, government-industry cooperation, a strong work
ethic, mastery of high technology, and a comparatively small defense allocation
(slightly less than 1% of GDP) have helped Japan develop an advanced economy.
Two notable characteristics of the post-World War II economy were the close
interlocking structures of manufacturers, suppliers, and distributors, known as
keiretsu, and the guarantee of lifetime employment for a substantial portion of
the urban labor force. Both features have significantly eroded under the dual
pressures of global competition and domestic demographic change.
Measured on a purchasing power parity basis that adjusts for price
differences, Japan in 2017 stood as the fourth-largest economy in the world
after first-place China, which surpassed Japan in 2001, and third-place India,
which edged out Japan in 2012. For three postwar decades, overall real economic
growth was impressive - a 10% average in the 1960s, 5% in the 1970s, and 4% in
the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely
because of the aftereffects of inefficient investment and the collapse of an
asset price bubble in the late 1980s, which entailed considerable time for
firms to reduce excess debt, capital, and labor. Modest economic growth
continued after 2000, but the economy has fallen into recession four times
since 2008.
Japan enjoyed an uptick in growth in 2013 on the basis of Prime Minister
Shinzo ABE’s “Three Arrows” economic revitalization agenda - dubbed “Abenomics”
- of monetary easing, “flexible” fiscal policy, and structural reform. Led by
the Bank of Japan’s aggressive monetary easing, Japan is making modest progress
in ending deflation, but demographic decline – a low birthrate and an aging,
shrinking population – poses a major long-term challenge for the economy. The
government currently faces the quandary of balancing its efforts to stimulate
growth and institute economic reforms with the necessity of addressing its
sizable public debt, which stands at 235% of GDP. To help raise government
revenue, Japan adopted legislation in 2012 to gradually raise the consumption
tax rate. However, the first such increase, in April 2014, led to another
recession, so Prime Minister ABE has twice postponed the next increase, now scheduled
for October 2019. Structural reforms to unlock productivity are seen as central
to strengthening the economy in the long-run.
Scarce in critical natural resources, Japan has long been dependent on
imported energy and raw materials. After the complete shutdown of Japan’s
nuclear reactors following the earthquake and tsunami disaster in 2011, Japan's
industrial sector has become even more dependent than before on imported fossil
fuels. However, ABE’s government is seeking to restart nuclear power plants
that meet strict new safety standards and is emphasizing nuclear energy’s
importance as a base-load electricity source. In August 2015, Japan
successfully restarted one nuclear reactor at the Sendai Nuclear Power Plant in
Kagoshima prefecture, and several other reactors around the country have since
resumed operations; however, opposition from local governments has delayed
several more restarts that remain pending. Reforms of the electricity and gas
sectors, including full liberalization of Japan’s energy market in April 2016
and gas market in April 2017, constitute an important part of Prime Minister
Abe’s economic program.
In October 2015, Japan and 11 trading partners reached agreement on the
Trans-Pacific Partnership (TPP), a pact that had promised to open Japan's
economy to increased foreign competition and create new export opportunities
for Japanese businesses. Japan was the first country to ratify the TPP in
December 2016; the United States signaled its withdrawal from the TPP in
January 2017, and in November 2017 the remaining 11 countries agreed on the
core elements of a modified agreement, which they renamed the Comprehensive and
Progressive Agreement for Trans-Pacific Partnership (CPTPP).
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Source
: CIA |
Company
name & address
SANTOMI & CO LTD
REGD NAME: KK
Santomi Shoten
MAIN OFFICE: Shin-Kobe
Bldg, 1-1-1 Sannomiyacho Chuoku Kobe 650-0021 JAPAN
Tel:
078-331-2525 Fax: 078-321-5072
E-Mail address: Osaka@santomi.net, also Tokyo@santomi.net
ACTIVITIES: Import,
wholesale of rubbers, turbine flow meter, adhesives, air valves, other
BRANCHES: Tokyo,
Osaka
OVERSEAS: Korea
(subsidiary)
OFFICER(S): KATSUFUMI
KINOSHITA, PRES
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,876 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 10 M
TREND SLOW WORTH Yen
714 M
STARTED 1948 EMPLOYES 15
COMMENT: IMPORTER AND WHOLESALER OF CYCLONE TURBINE FLOW METER, OTHER INDUSTRIAL PARTS & COMPONENTS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 60.3 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Mikizo Kinoshita in order to make most of his experience in the subject line of business. Takeshi is the founder’s son, who took the pres office in Mar 2000. This is a trading firm, owned by the Kinoshita family, specializing in import and wholesale of rubbers, cyclone turbine flow meter used in the semiconductor industry, from Korea, where the firm operates a subsidiary. Also handles adhesives, air valves, plastic fittings & joints, plastic bended tubes, soil improvement chemicals, other. Clients include major industrial machinery mfrs, chemical firms, etc.
FINANCIAL
INFORMATION
The sales volume for Dec/2017 fiscal term amounted to Yen 1,876 million, a 6% down from Yen 2,004 million in the previous term. Demand slowed. The recurring profit was posted at Yen 107 million and the net profit at Yen 92 million, respectively, compared with Yen 98 million recurring profit and Yen 65 million net profit, respectively, a year ago.
For the current term ending Dec 2018 the recurring profit is projected at Yen 110 million and the net profit at Yen 95 million, on a 3% rise in turnover, to Yen 1,940 million.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 60.3 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jun
1948
Regd No.:
1400-01-007970
(Kobe-Chuoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized:
800,000 shares
Issued:
200,000 shares
Sum: Yen
10 million
Major
shareholders (%): Takeshi Kinoshita (35),
Shinzo Kinoshita (14), Katsufumi Kinoshita (10), Yoko
Kinoshita (2), other
No. of shareholders: 22
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales cyclone turbine flow meters (from Korea), adhesives (Loctite), plastic fittings & joints, plastic bended tubes, natural rubber, synthetic rubber, natural latex, synthetic resins, other rubber materials, mold cleaners (cleaning rubber & liquid), other industrial parts & components, soil improvement chemicals, others (--100%).
Clients: [Machinery mfrs, other mfrs] Mitsubishi Heavy Ind, Dainippon Screen, Bando Chemical, Mitsuboshi Belt, Nippon Contex, Sumitomo Special Metals, Daiwabo Progress, Kurashiki Kako Co, Omron Switch & Device Co, Togawa Rubber Co, Horiba Ltd, Mitsuboshi Belding Ltd, other
No. of accounts: 350
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Flowell Co, Takaha Kikou Co, Dau Tieng Rubber Corp, LG Chem, Tokyo Zairyo Co, Mitsubishi Corp, Kaneka Corp, Ushio Lighting Inc, Henkel Japan Ltd, Tokyo Commodity Exchange, other.
Imports from Korea, other
Payment record: No Complaints
Location: Business area in Kobe. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
Hyakujushi Bank
(Kobe)
SMBC (Kobe)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/12/2018 |
31/12/2017 |
31/12/2016 |
31/12/2015 |
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Annual
Sales |
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1,940 |
1,876 |
2,004 |
2,137 |
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Recur.
Profit |
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110 |
107 |
98 |
.. |
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Net
Profit |
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95 |
92 |
65 |
50 |
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Total
Assets |
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1,340 |
1,477 |
1,390 |
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Net
Worth |
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714 |
777 |
831 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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3.41 |
-6.39 |
-6.22 |
-5.44 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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53.28 |
52.61 |
59.78 |
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N.Profit/Sales |
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4.90 |
4.90 |
3.24 |
2.34 |
Notes:
Forecast (or estimated) figures for 31/12/2018 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.13 |
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1 |
INR 92.52 |
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Euro |
1 |
INR 80.59 |
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Yen |
1 |
INR 0.61 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIS |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low risk
of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably on
secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the business
is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
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Promoters
/ Management background
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Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.